Housing Affordability (Australia)
Housing affordability is Australia continues to grow out of reach of the average Australian, especially in major cities like Sydney and Melbourne.
This topic gives a overview of the current housing affordability situation and discusses possible solutions, government initiatives and other Pro's and Con's to curbing affordability growth.
The new NSW Premier Gladys Berejiklian has made housing affordability a commitment of her government and our Federal Treasurer Scott Morrison has been to London investigating alternative means to providing low cost and social housing, while Opposition Leader Bill Shorten claims only Labor has the solution to housing affordability.
Declining rates of home ownership aren't necessarily a bad thing, according to the Reserve Bank. Addressing a conference of housing researchers in Melbourne, the Bank's head of economics, Luci Ellis, said participation in the housing market "need not be about owning your own home".
Get The Facts - Housing Stressed | Australians for Affordable Housing Housing Stressed | Australians for Affordable Housing
Housing stressed: the campaign to improve housing affordability for all Australians
NSW premier Gladys Berejiklian has promised to make improving housing affordability one of her top priorities but says she will concentrate on boosting the supply of new homes rather than tax reform. Ms Berejiklian, who on Monday became NSW's 45th premier and the first female Liberal state premier, said the lack of affordable housing was the biggest issue raised with her across the state and especially in Sydney.
The newly released annual Demographia report on housing affordability has found - once again - that Australia has some of the least affordable housing markets in the world. Sydney was ranked as the second-least-affordable housing market behind Hong Kong.